H.A.P. Construct
ActiveH.A.P. Construct has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.28M and a net result of €345k. Equity is growing by ~14.2% per year across the filed fiscal years. Its solvency ranks better than 70% of 1027 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
93
/ 100
Excellent▼ -7 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100=
Solvency99▼-1
Growth78=
Stability100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €120k at 30 days acceptable
Liquidity ample (current ratio 2.01 against 2.38 in 2024), and 36.7% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 25
Relative position
BE, all sectors
reference
Sector 25
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
63.3%
Return on assets
17%
Age of the figures
8 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 25-08-2026, 25 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
25 d late
2024
34 d early
2023
29 d late
2022
31 d late
2021
31 d late
2020
21 d late
2019
11 d late
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
14-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€1.28M▲ 2.2%
2024 · €1.26M
2018: €428k
2019: €652k
2020: €746k
2021: €771k
2022: €923k
2023: €1.08M
2024: €1.26M
2018 → 2025
Total assets
€2.03M▲ 15.3%
2024 · €1.76M
2018: €1.15M
2019: €1.40M
2020: €1.37M
2021: €1.46M
2022: €1.65M
2023: €1.73M
2024: €1.76M
2018 → 2025
Net result
€345k▼ 10.3%
2024 · €385k
2018: €209k
2019: €225k
2020: €96k
2021: €105k
2022: €152k
2023: €223k
2024: €385k
2018 → 2025
Working capital
€709k▲ 6.8%
2024 · €663k
2018: €300k
2019: €245k
2020: €284k
2021: €320k
2022: €262k
2023: €486k
2024: €663k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€771k-€923k▲ 19.7%€1.08M▲ 16.9%€1.26M▲ 16.4%€1.28M▲ 2.2%
Operating result€122k-€188k▲ 53.4%€308k▲ 64.1%€504k▲ 63.5%€476k▼ 5.6%
Net result€105k-€152k▲ 44.3%€223k▲ 47.0%€385k▲ 72.6%€345k▼ 10.3%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 6% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.03M
Fixed assets
€619k▲ 1.0%
Current assets
€1.41M▲ 23.0%
Equity and liabilities €2.03M
Equity
€1.28M▲ 2.2%
Debt
€744k▲ 47.9%
The debt ratio rises from 28.6% to 36.7%: debt grows faster than equity.
Key figures and ratios
EBITDA
€621k▼
2024 · €642k
Cash flow
€491k▼
2024 · €523k
Solvency
63.3%▼
2024 · 71.4%
Current ratio
2.01▼
2024 · 2.38
Quick ratio
1.82▼
2024 · 2.12
Debt / equity
0.58▲
2024 · 0.40
ROE
26.9%▼
2024 · 30.7%
ROA
17.0%▼
2024 · 21.9%
Interest coverage
30.82▲
2024 · 28.57
Debt
€744k▲
2024 · €503k
Debt ≤ 1 year
€700k▲
2024 · €482k
Debt > 1 year
€44k▲
2024 · €21k
Income taxes
€156k▲
2024 · €142k
Staff costs
€450k▲
2024 · €385k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€1.76M€2.03M▲
Fixed assets21/28€613k€619k▲
Intangible fixed assets21€2k€1k▼
Tangible fixed assets22/27€611k€618k▲
Plant, machinery and equipment23€128k€93k▼
Furniture and vehicles24€120k€194k▲
Other tangible fixed assets26€363k€330k▼
Current assets29/58€1.15M€1.41M▲
Stocks and contracts in progress3€125k€136k▲
Stocks30/36€49k€50k▲
Contracts in progress37€77k€87k▲
Amounts receivable within one year40/41€555k€857k▲
Trade receivables40€448k€814k▲
Other amounts receivable41€106k€43k▼
Cash at bank and in hand54/58€451k€408k▼
Deferred charges and accrued income490/1€14k€7k▼
Equity and liabilities
Total equity and liabilities10/49€1.76M€2.03M▲
Equity10/15€1.26M€1.28M▲
Contributions10/11€50k€50k=
Reserves13€1.21M€1.23M▲
Non-distributable reserves130/1€5k€5k=
Reserves not available under the articles1311€5k€5k=
Tax-exempt reserves132€271k€271k=
Distributable reserves133€929k€958k▲
Profit (loss) carried forward14€0€0=
Amounts payable17/49€503k€744k▲
Amounts payable after more than one year17€21k€44k▲
Financial debts170/4€21k€44k▲
Amounts payable within one year42/48€482k€700k▲
Current portion of amounts payable after more than one year42€40k€36k▼
Trade debts44€88k€150k▲
Suppliers440/4€88k€150k▲
Advances received on contracts in progress46€27k€156k▲
Taxes, remuneration and social security45€39k€40k▲
Taxes450/3€16k€17k▲
Remuneration and social security454/9€23k€23k▲
Other amounts payable47/48€289k€318k▲
Income statement
Code20242025
Remuneration, social security and pensions62€385k€450k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€138k€146k▲
Other operating charges640/8€12k€26k▲
Gross operating margin9900€1.04M€1.10M▲
Operating profit (loss)9901€504k€476k▼
Financial income75/76B€49k€46k▼
Recurring financial income75€49k€46k▼
Financial charges65/66B€25k€20k▼
Recurring financial charges65€22k€20k▼
Non-recurring financial charges66B€3k€0▼
Profit (loss) for the period before taxes9903€527k€501k▼
Income taxes67/77€142k€156k▲
Profit (loss) for the period9904€385k€345k▼
Transfer to tax-exempt reserves689€253k€0▼
Profit (loss) for the period to be appropriated9905€132k€345k▲
Appropriation of the result
Profit (loss) to be appropriated9906€132k€345k▲
Transfer from equity791/2€208k€317k▲
Transfer to equity691/2€132k€345k▲
To other reserves6921€132k€345k▲
Profit to be distributed694/7€208k€317k▲
Return on contributions (dividend)694€208k€317k▲
Social balance
Average headcount (FTE)90875.76.3▲
The notes to these accounts (21 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
25-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 25 days late
2025
27-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Highest result since 2018net €385k ▲72.6%
Operating result €504k, net result €385k, both a record.
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 29 days late
2023
31-12
Financial
Equity above €1MEq €1.08M ▲16.9%
6 profitable years in a row build equity to €1.08M.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 31 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
21-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 21 days late
2020
31-12
Financial
Weakest financial yearnet €96k ▼57.5%
Net result drops to €96k, the lowest in the series; recovery starts the following year.
11-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 11 days late
2019
31-12
Financial
Equity above €500kEq €652k ▲52.1%
2 profitable years in a row build equity to €652k.
27-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 27 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 31 days late
2017
17-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 17 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
3 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Tielt · 2 establishment units since 2015
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Careelstraat 48700 TieltGround area
2,997 m²
Building footprint
1,221 m²
Volume, LiDAR
897 m³
2 parcels, Flanders · tallest building 10.0 m, ±3 floors. Linked by address, not a title deed.
2 establishment units
H.A.P. Construct
since 20152.248.126.834
H.A.P. Construct
since 20242.355.012.817
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 37303I0927/00A000 | Flanders | 2,655 m² | 1 · 1,095 m² | 0.0 m |
| 37303G0087/00D002 | Flanders | 342 m² | 1 · 126 m² | 9.9 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 4 entries · 4,333 EUR awarded · 4,279 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | 2,729 EUR | 2,729 EUR |
| 2024 | 1 | 1,330 EUR | 1,276 EUR |
| 2022 | 1 | 274 EUR | 274 EUR |
Schemes
Retroactieve investeringspremie voor eigenaars van zonnepanelen na afschaffing van terugdraaiende teller
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Recognised contractor
5 categoriesH.A.P. Construct BV43091
Dual-learning approval
2 endedSimilar companies · same sector, comparable size
DEBONDT - GROEP ALPHA
BE 0466.802.602
Pajottegem · Eq €1.30M
INTEC
BE 0465.869.818
Houthulst · Eq €1.27M
D-Fence 2.0
BE 1026.524.175
Dendermonde · Eq €1.27M
WILLEMS MARCEL
BE 0887.679.662
Aarschot · Eq €1.27M
PRODUCTIE2+
BE 0892.022.193
Sint-Truiden · Eq €1.30M
Of 904 companies in sector 25120 we hold annual accounts for 673. 464 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded04-11-2015
Fiscal year end31-12
Activities, NACEBEL
25120Manufacture of fabricated metal products, except machinery and equipment
43320Joinery installation
Sources
Crossroads Bank for EnterprisesNational Bank · 10 filingsAddress and cadastre registers
Data from official sources, last processed on 14-09-2026. Scores and ratios are computed by Checked and are not a credit decision.